When a startup is failing, it's important to communicate openly with investors and ensure that employees are not left in the dark.

I communicated transparently with my team and investors about our financial situation, ensuring everyone understood the challenges we faced.

It's important to stick to first principles and communicate the reality of the situation to the team during challenging times. Having open, honest, and vulnerable conversations helped us navigate tough times in the crypto space, and companies that survive these challenges can benefit during the good times.

Transparency with your team during fundraising is crucial. Sharing both good and bad news helps maintain trust and keeps everyone aligned on the company's goals.

Sharing bad news, like having only two months of runway, can actually motivate great startup employees to engage and find solutions together.

Maintaining team morale and trust is essential, even when you can't share all the details about the company's future.

When terminating an employee, communicate clearly and directly without making excuses or apologies.

Emphasize to candidates that startups don't waste time on projects that get shut down; everything they do will directly impact real users and customers, which is a fulfilling experience.

I had to balance transparency with kindness when discussing the company's future with my team, especially as we grew larger.